The U.S. Department of Commerce (DOC) has made no change to its previous preliminary decision regarding the imposition of antidumping duties on pangasius from Vietnam.
The final results of DOC’s 18th period review from 1 August, 2020, through 31 July, 2021 were announced in a notice published in the Federal Register on 13 September. The final conclusion was identical to the results of the preliminary review that the DOC announced in May 2022.
After the results of the preliminary review were published, in June, the U.S. agency received a case brief from the petitioners as well as rebuttal briefs from three Vietnamese exporters, including Navico, Green Farms Seafood, and Hung Vuong Group.
The administrative review covered more than 80 companies from Vietnam. Of the total, the DOC found that 15 companies that had no shipments during the period will still face the Vietnam-wide rate of USD 2.39 (EUR 2.39) per kilogram, as specified in the preliminary review. That rate will also be imposed on Hoa Phat Seafood Import-Export and Processing, as the company was determined not to be eligible for a separate rate.
Other companies, including NTSF Seafoods, Vinh Hoan, and Van Duc Tien Giang would continue to enjoy zero duty for pangasius export products to the U.S., according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Navico resumed exporting pangasius to the U.S. in August, after leaving the market in 2014, and has set a long-term goal of taking over 10 percent of the total U.S. total pangasius market.
Vietnam’s pangasius export value in July fell to the lowest level since April, at USD 186 million (EUR 186 million) in July, up 47 percent year-on-year, due to lower sales to the U.S. and China, its two biggest markets, according to VASEP.
Pangasius exports from Vietnam to the U.S. fell to USD 32 million (EUR 31.7 million) in value in July, down 4 percent year-on-year, making it the weakest month for Vietnam’s U.S. pangasius exports thus far in 2022, after reaching a 12-month peak of USD 81 million (EUR 80.4 million) in April. VASEP said prices of the country’s pangasius exports to the U.S. have stayed at high levels through last year and the first half of this year. However, many importers in the U.S. have been requesting lower prices due to their higher stockpiles and a trend of falling consumption.
Overall, Vietnam exported USD 186 million (EUR 184.6 million) worth of pangasius in the month, up 47 percent year-on-year, the lowest since this year’s peak of USD 310 million (EUR 307.7 million) in April. Lower sales were recorded in both China and the U.S., the two largest destinations for pangasius from Vietnam.
Vietnam’s pangasius sales to China reached their highest value in April with USD 113 million (EUR 112.2 million) but fell to USD 44 million (EUR 43.7 million) in July. However, accumulated sales in China have still more than doubled to USD 451 million (EUR 447.6 million) over the first seven months of 2022, accounting for 28 percent of Vietnam’s pangasius export value in the period.
In July, China dropped its policy of banning shipments from Vietnamese seafood companies if their products are found to be contaminated with COVID-19, a move VASEP said will help drive up exports. However, as China has increased food safety checks on imported seafood products, the trade group has advised its members to closely adhere to the standards set by Chinese authorities to avoid any impacts to their exports.
Meanwhile, Vietnam’s pangasius sales to other markets, including Mexico and the E.U., rose in July 2022. Sales to Canada increased fourfold year-over-year, while sales to the Philippines rose 350 percent. Vietnam’s pangasius sales to Singapore rose 200, percent, sales to Australia rose 143 percent, sales to Brazil increased 40 percent, and sales to Thailand ramped up 34 percent year-on-year, VASEP said.
Over the first seven months of 2022, Vietnam exported pangasius worth USD 1.61 billion (EUR 1.6 billion), up 79 percent year-on-year, and nearly equivalent to the USD 1.62 billion (EUR 1.61 billion) in sales Vietnam’s pangasius sector recorded in the entirety of 2021.
Photo courtesy of VASEP
